Quratul-Ain Bandial, Bandar Seri Begawan – Timor Leste is keen to reap the potential benefits of tariff-free trade once it joins the ASEAN bloc, said the country's commerce, industry and environment minister on Tuesday.

Constancio Pinto told reporters that joining the ASEAN free trade area is a key reason the country is eager for the regional group to approve its membership application as soon as possible.

ASEAN has a free trade zone among its 10 members, as well as FTAs with six other countries including China, Japan, Korea, India, Australia and New Zealand.

"One of the economic benefits of joining ASEAN is that we can engage in trade and enjoy the open market and some of the trade facilities... We will also be open to ASEAN countries as a new market," said the minister, who is in the sultanate to attend the Second Asia-Pacific Rainforest Summit.

ASEAN is currently conducting a final review of Timor Leste's application to join the organization.

"I was happy to read in the newspaper a statement from the Indonesia Foreign Ministry spokesperson that there is a good prospect for Timor Leste to join ASEAN. If it's tomorrow or next year we are ready to join," he said. "But we have already been actively participating in the technical meetings."

Pinto said the country has not forged any free trade agreements (FTAs) since its independence from Indonesian occupation in 2002 and is keen to explore bilateral FTAs with regional neighbors.

"We have bilateral agreements with Indonesia but not with other countries, it is something we would like to explore. At the moment there is a very small amount of trade between Timor Leste and Brunei."

The country's only major export is coffee, which it exports to Singapore, the United States and Australia. "I see a lot of coffee shops and it seems like Bruneians are drinking a lot of coffee so we can explore that and export directly to Brunei."

Pinto said the two nations could also look into forging cooperation in halal food manufacturing. "We have a lot of land that can be developed and we welcome any company that is interested in developing it for food production... Perhaps Bruneian companies can go to Timor Leste and invest in such a project."

Source: http://www.thejakartapost.com/seasia/2016/08/03/timor-leste-seeks-entry-into-asean-market.html